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What is an assessment year? - Commerce

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प्रश्न

What is an assessment year?

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उत्तर

The term has been defined under section 2(9). The year in which tax is paid is called the assessment year. It normally consists of a period of 12 months commencing on 1st April every year and ending on 31st March of the following year.

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Income Tax
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अध्याय 32: Direct Taxes - Exercises [पृष्ठ ३२०]

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सामाचीर कलवी Commerce [English] Class 11 TN Board
अध्याय 32 Direct Taxes
Exercises | Q II. 5. | पृष्ठ ३२०
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